New Delhi: The federal government has decreased its subsidy expenditure for meals, fertilizer and gas i.e. 3F within the full finances for the monetary 12 months 2024-25 introduced within the Lok Sabha on Tuesday. It has introduced a lower of seven.8 p.c in it. Finance Minister Nirmala Sitharaman introduced the finances in Parliament at present. The overall subsidy allocation for the present monetary 12 months is Rs 3,81,175 crore. That is lower than the determine of Rs 4,13,466 crore final 12 months. The lower is on the traces of the estimates expressed within the interim finances of February.
Rs 2,05,250 crore has been fastened for meals subsidy, lower than the revised estimate of Rs 2,12,332 crore for the monetary 12 months ending March 31, 2024. This subsidy bridges the hole between the financial price of foodgrains procured by the federal government and the realisation from their sale underneath the Nationwide Meals Safety Act (NFSA) and different welfare schemes. About 80 crore individuals profit from this scheme.
Large lower in fertilizer subsidy
Fertilizer subsidy has seen a extra vital lower. It has been set at Rs 1,64,000 crore for 2024-25 as towards the revised estimate of Rs 1,88,894 crore for the earlier fiscal.
This subsidy helps producers and helps preserve inexpensive costs for farmers. It consists of each urea and non-urea fertilizers equivalent to DAP and MOP.
Slight discount in gas subsidy
Petroleum subsidy, primarily for cooking gasoline (LPG), has been marginally decreased to Rs 11,925 crore. That is lower than the revised estimate of Rs 12,240 crore for 2023-24.